HOUSTON, TX—Jack Deboer, founder of the Value Place economy extended-stay lodging chain, has been inducted into the Hospitality Hall of Honor, housed by the University of Houston’s Conrad N. Hilton College of Hotel and Restaurant Management. In addition to the currently 178-unit Value Place chain, which was founded here in 2002, DeBoer created the Residence Inn all-suite hotel chain in 1975 and built it to 103 corporate and franchised locations before selling it to Marriott Corp. 12 years later. He also founded the upscale all-suite Summerfield Hotel chain, which he sold to Hyatt Corp., and the Candlewood Hotel Company, which was acquired by InterContinental Hotels Group. In addition, he is a member of the Board of Trustees of Chatham Lodging Trust.

“It is a distinct honor to join such an elite group who have brought so much not only to the world of restaurants and hospitality, but also to the world at large,” said DeBoer in a statement. “I am incredibly fortunate to have achieved what I have in my career, and feel immeasurably rewarded when I can use my experience to inspire others to succeed in their own endeavors. I am grateful to the University of Houston for this honor.”